On the New Criterion's blog Michael Weiss has a piece on why we need Whit Stillman now. It turns out, Stillman does have a feature in pre-production. Hopefully it won't be vaporware! He was interviewed about it and other things by IFC when Metropolitan was available on Hulu recently (it's not anymore). I'm not overly optimistic; his name has been attached to other projects that haven't gotten made.
Here's a scene from towards the end of The Last Days of Disco: